The FBM 401(k) Profit Sharing Plan and Trust, administered by Charles Schwab, offers a variety of investment options. The company generously matches employee 401(k) contributions to help grow your retirement savings.

Eligibility

You are eligible to participate in the 401(k) Profit Sharing Plan and Trust following 60 days of continuous service. You may enroll in the 401(k) plan, designate beneficiaries, and allocate your asset distribution at any time at workplace.schwab.com. You do not need to wait for annual enrollment to make contribution changes.

Note: If you do not take action when you become eligible, you will be automatically enrolled at a pre-tax contribution rate of 5%.

401(k) Contributions

FBM will match employee contributions at 50% on the first 5%. Personal contributions are pre-tax and deposited into your account through convenient payroll deductions.

Your funds are immediately vested. This means the funds in your account are 100% yours. FBM contributions are vested after you complete one year of service.

Get Started

You have options to enroll in or modify your automatic enrollment.

• Visit workplace.schwab.com and click Register Now.
• Call (800) 724-7526 (Monday through Friday from 7:00 AM – 11:00 PM EST).
• Download the app workplace.schwab.com/workplace-mobile-app.

Helpful Tips on Saving for Retirement

• Start saving as soon as possible to grow your retirement account.
• Begin with small contributions, if necessary, and increase contributions over time.
• Make setting aside money for retirement a habit.
• Understand investment returns may fluctuate.
• Let it sit. Avoid penalties by leaving funds in your 401(k) until retirement.
• If you change jobs, you can roll over your retirement account.

Rollover

FBM Employee Financial Health Workshop Series

Supporting your financial wellbeing, wherever you are on your journey.

Your Retirement Roadmap + Web Demo

Watch to learn how to get started or keep going on your retirement planning journey. The workshop includes information on your plan setup, contribution types, and choosing a savings and investment approach.

Watch the Recording

Smart Spending: Living Well Without Overspending

Your goals and ambitions may have no limits, but budgets matter. This workshop will share practical tips to help you:

• Track and manage expenses
• Build an effective spending plan
• Avoid common financial pitfalls

Register Today

Smart Saving: Building a Strong Financial Foundation

Take control of your financial future by learning how to make your money work smarter for you. 

• Learn strategies to balance short-erm needs with long-term savings goals
• Explore ways to maximize the growth potential of your money
• Build a plan that aligns with the future you envision

Register Today

Smart Investing: Putting Your Money to Work for You

Build confidence is your investing journey by understanding the fundamentals and creating a clear path forward.

• Learn how to set realistic and meaningful investment goals
• Understand the basics of getting started with investing
• Discover strategies to say consistent and on track over time

Register Today

Financial Health Workshop Schedule

With the FREE Bank of America Banking and Investing program, you will have access to a dedicated team of specialists who can provide financial education and guidance. Eligible employees can also enroll in the Preferred Rewards program where you can receive exclusive benefits and rewards to help you save money now and for the future.

Eligibility

As an FBM employee, you are eligible to participate in the Bank of America Employee Banking and Investing Program. You are eligible to enroll in the Preferred Rewards program if you:

• Have an active, eligible Bank of America personal checking account
• Direct deposit your FBM pay checks into an eligible Bank of America checking or savings account

Note: Your program eligibility will be reviewed annually one month after your anniversary date.

Get Started

You must complete the enrollment process for the program. To get started visit promo.bankofamerica.com/BIP/#/fbm.

Once you complete the enrollment steps, Bank of America will confirm your direct deposit and enrollment within 60 days. If you are already enrolled, you will see a Preferred Rewards indicator in your online banking and on your banking statement.

Note: You do not have to meet the $20,000 balance requirement for the Preferred Rewards program.